Over the past several decades, the United States has adopted a series of campaign finance reform laws. If these laws were designed to reduce the power of money in politics, they have failed. Spending on political campaigns has exploded. Washington booms with masses of lobbyists and consultants.
But campaign finance laws weren’t merely designed to take money out of politics; they were designed to protect incumbents from political defeat. In this regard, the laws have been fantastically successful.